| Velar Holdings Limited |
|
| Report to the directors on the preparation of the unaudited statutory accounts of Velar Holdings Limited for the year ended 28 February 2025 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Velar Holdings Limited for the year ended 28 February 2025 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/ |
| Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. |
|
| Coalesco Accountants Limited |
| Chartered Certified Accountants |
| 156 Russell Drive |
| Wollaton |
| Nottingham |
| Nottinghamshire |
| NG8 2BE |
|
| 7 October 2025 |
|
| Velar Holdings Limited |
| Notes to the Accounts |
| for the year ended 28 February 2025 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company (including one non remunerated director) |
|
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
4,809 |
|
2,517 |
|
Other debtors |
11,741 |
|
5,307 |
|
|
|
|
|
|
16,550 |
|
7,824 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
1,472 |
|
6,505 |
|
Other taxes and social security costs |
23,760 |
|
13,411 |
|
Other creditors |
93,176 |
|
74,736 |
|
|
|
|
|
|
118,408 |
|
94,652 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Other information |
|
|
Velar Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Windsor House |
|
30 Old Coach Road |
|
Nottingham |
|
NG8 1GT |